NeighborWorks America and the Citi Foundation are partnering to provide financial capability programs across the country to help low- and moderate-income individuals and families gain greater economic stability through strategies like debt reduction and asset building. Through this $5 million, 2.5 year initiative, financial coaches will provide services to empower people to save money, pay down debt, and better manage their finances over their lifetimes in order to help as many as 65,000 individuals. Financial coaching involves developing a personalized financial plan with a coach and getting ongoing encouragement and accountability to achieve financial goals.

1. 6/11/2015 NeighborWorks press releases - NeighborWorks America
http://www.neighborworks.org/Media-Center/Press-Releases/2012-Archive/NeighborWorks-America-and-Citi-Foundation-Support 1/3
Home / Media Center / Press Releases / 2012 Archive / NeighborWorks America and Citi Foundation Support
Programs to Help Individuals and Families Gain Gre
Press Release
Release date: 6/26/2012
Contacts: Lindsay Moore, lmoore@nw.org , 202-220-6317
NeighborWorks America and Citi Foundation Support Programs to Help Individuals and
Families Gain Greater Economic Stability
Financial Capability Program Empowers Individuals to Achieve Financial Independence and Save
for Long-Term Goals
Washington, DC – NeighborWorks America and the Citi Foundation are working together to level the
economic playing field by providing financial capability programs across the country that support low-
and moderate-income individuals who seek greater financial security through debt reduction and asset
building strategies such as homeownership and attaining a college education. A new report released
by the Federal Reserve shows Americans’ net worth has plummeted since the recession. In this
challenging landscape, financial capability represents a more comprehensive approach to building
assets, moving beyond traditional financial education to provide individuals with a variety of financial
tools that they can use to make sound financial decisions, while building and preserving their assets in
the process.
NeighborWorks America, which creates opportunities for people to live in affordable homes, improve
their lives and strengthen their communities, and the Citi Foundation, which supports economic
empowerment and financial inclusion, are partners in the Financial Capability Demonstration Project, a
$5 million, 2.5 year initiative begun in mid-2010. The initiative aims to significantly expand the number
of financial capability coaches to provide low- and moderate-income Americans with the vital financial
education, coaching and planning services needed to enable families nationwide to build savings, pay
down debt and better manage their finances over the course of their lives. Financial coaching is a new
element in the financial capability toolkit that aims to empower individuals to better manage their
financial lives. As many as 65,000 people may benefit from this project.
Financial coaching helps clients improve their financial behavior to achieve self-determined financial
goals such as reducing debt, building credit or saving for the future. Individuals form ongoing personal
relationships with their coach who helps them develop a personalized plan to accomplish their
financial goals. Financial coaches offer encouragement and guidance as their clients shift attitudes and
behaviors about their finances and hold them accountable for making day-to-day choices that can help
or hinder them from achieving their goals. Coaching is part of the movement towards the broader

2. 6/11/2015 NeighborWorks press releases - NeighborWorks America
http://www.neighborworks.org/Media-Center/Press-Releases/2012-Archive/NeighborWorks-America-and-Citi-Foundation-Support 2/3
concept of financial capability that focuses on helping people make real changes to their financial
behavior versus traditional financial literacy programs that focus more on building consumers’
financial knowledge.
“NeighborWorks America works to revitalize communities, and that begins with individuals and
families. By offering these financial capability programs, we more effectively turn consumers’
knowledge into sustainable action over the course of their financial lives,” said NeighborWorks America
CEO Eileen Fitzgerald.
“At Citi, financial inclusion is at the core of our mission. Through our innovative partnership with
NeighborWorks America, thousands of underserved Americans will receive access to the financial
services, information and ongoing guidance they need to make informed decisions that will lead to
greater financial stability and independence,” said Brandee McHale, Citi Foundation Chief Operating
Officer.
“You all gave me hope. I thought I would live in the bondage of debt forever. My coach’s words of
wisdom and knowledge gave me the courage and direction and the results are coming in. I still have a
ways to go, but at least the road is not as long as it first appeared. I appreciate how this program has
helped my daughter and me,” said Nakia Davis, a client of The Unity Council in Oakland, California. The
Unity Council is a part of the Financial Capability Demonstration project and is also a member of the
NeighborWorks America network, which supports more than 235 nonprofits located in every state, the
District of Columbia and Puerto Rico, offering free and low-cost advisory services to thousands of
individuals and families.
Financial capability coaching can be particularly valuable as the country emerges from the economic
turmoil of the past several years and families and individuals focus on rebuilding their financial lives
and achieving their long-term financial goals.
About NeighborWorks America
NeighborWorks America creates opportunities for people to improve their lives and strengthen their
communities by providing access to homeownership and to safe and affordable rental housing. In the
last five years, NeighborWorks organizations have generated more than $19.5 billion in reinvestment
in these communities. NeighborWorks America is the nation’s leading trainer of community
development and affordable housing professionals.
# # #
MEDIA CENTER

3. 6/11/2015 NeighborWorks press releases - NeighborWorks America
http://www.neighborworks.org/Media-Center/Press-Releases/2012-Archive/NeighborWorks-America-and-Citi-Foundation-Support 3/3
PRESS RELEASES
2015 Archive
2014 Archive
2013 Archive
2012 Archive
2011 Archive
OUR EXPERTS
BLOG
STORIES
NEWSLETTERS
RESEARCH
IMPACT GRAPHICS
AWARDS
VIDEOS
Subscribe to NeighborWorks
eNewsletter
Blog